I would hand sand all the red areas with 120,sand the metal with 180 take your time to get in all the pits. Then epoxy and 2K primer,maybe even high build if needed. It should fill those pits.
The hood is from a '73 AMX, A stock working cowl induction hood.
Can't get a replacement that's functional, and the old ones tend to separate.
They previous owner had been restoring it, his father does restorations and bodywork for a living.
They had separated the metal and fiberglass, worked the metal and epoxied it, then glued the skin back on.
It's going to be a driver, maybe not every day but as often I can. It will not be stock.
I just want it to last another 20 or 30 years till I die.